The Arab Industrialization and Investment Authority are discussing strengthening the national industry

12/08/2020


Lieutenant General "Abdel Moneim El-Terras", Chairman of the Arab Organization for Industrialization, discussed with Counselor "Mohamed Abdel-Wahhab," CEO of the General Authority for Investment and Free Zones, ways to strengthen the national industry and encourage international companies to invest and localize their products in Egypt.

During the interview, the Arab Industrialization vision was presented on deepening local industrialization through cooperation with major investment companies and identifying mechanisms to enhance cooperation in many different areas of industry, and it was also agreed between Arab Industrialization and the Investment Authority to form a joint working group whose task is to follow up on joint projects under implementation As well as promoting the investment opportunities available to the Arab Organization for Industrialization in the most important international markets.

 In this regard, "Al-Terras" and "Abdel-Wahab" stressed the importance of coordinating efforts to support partnership with the private sector and encourage international companies to localize modern technology in Egypt and cover the needs of the local market, in addition to exporting at competitive prices to the African and Arab region by taking advantage of trade agreements and trade zones. Free.

The "Terrace" stressed the implementation of the directives of President "Abdel-Fattah El-Sisi" to enhance investment opportunities, localize modern technology, and develop industrial and production methods and systems in cooperation with major international companies.

He added that Arab Industrialization aims, with these projects, to provide new job opportunities for youth, stressing the importance of increasing the added value of Egyptian products and achieving digitalization for all mega development projects.

The consultant, "Mohamed Abdel-Wahab" noted the strategic dimension of developing the local industry, which would contribute to replacing some of our imports from abroad, explaining the importance of joint coordination with the Arab Organization for Industrialization in negotiation processes with investors wishing to open new markets for them in Egypt, and work to complete all approvals and permits. Necessary to implement projects.